Vietnamplus

Vietnam recorded year-on-year growth of 3.15% in the 2022 consumer price index (CPI) while core inflation increased 2.59%, the General Statistics Office (GSO) said on December 29.

The Ministry of Finance has proposed the government set environmental fuel tax at its floor limit for another year.

The Dung Quat oil refinery produced about 5.18 million tonnes of petrol and oil during January - September, up 6% from the nine-month plan and equivalent to 80% of this year’s target, its operator – Binh Son Refining and Petrochemical JSC (BSR) - said.

To deal with fuel prices, the Civil Aviation Authority of Vietnam (CAAV) just proposed raising air service prices on domestic routes to the Ministry of Transport (MoT).

HSBC has raised its forecast for Vietnam’s economic growth this year to 6.9%, from the previous prediction of 6.6%, which is possibly the fastest pace in the region.

Supply of goods and services for the domestic market during the first half of the year has been ample with a slight uptick observed for a number of commodities, said the Ministry of Industry and Trade (MoIT) during a conference in Hanoi on June 28.

Experts have raised strong support for a comprehensive reform for the draft revised Petroleum Law that will help further develop the country’s oil and gas industry.

The Malaysian government still has sufficient funds to continue to provide fuel subsidies to the people despite rising global crude oil prices, Finance Minister Tengku Zafrul Abdul Aziz has said.

The State Bank of Vietnam (SBV) has been consistent in its policy to strictly control the credit flows into areas with high risks such as real estate and securities, and the policy will continue to be implemented in 2022 and following years, said SBV Deputy Governor Dao Minh Tu at a regular Government press conference on June 4.

The PetroVietnam Exploration Production Corporation (PVEP) has fulfilled its yearly profit target for 2022 by the end of the first quarter of the year, earning an estimated 5,892 billion VND (nearly 258 million USD) in pre-tax profit, up 117 percent year-on-year and surpassing the yearly plan by 2 percent.

With a population of 400 million, the Middle East is emerging as a promising market for Vietnamese exporters, according to experts.

The Russia-Ukraine tension appears to benefit Malaysia's position as a net oil exporter and the sharp rise in oil prices will provide temporary support for the country's fiscal position, according to World Bank senior country economist Shakira Teh Sharifuddin.

Cambodian Prime Minister Hun Sen has expressed his concern over the Cambodian economy, which may be affected by rising global oil prices and increased inflation caused by the COVID-19 pandemic and the Russia-Ukraine conflict.

Surging crude oil prices and earnings from real estate have pushed up Ho Chi Minh City’s state budget collection by nearly 15 percent in the first two months of 2022, as compared with the corresponding time last year.

Despite negative effects of the COVID-19 pandemic, oil and gas enterprises still recorded a prosperous year thanks to the sharp rise in oil prices.

Retail petrol prices increased by more than 1,400 VND per litre from 4 pm on October 26 following the latest adjustment by the Ministry of Industry and Trade and the Ministry of Finance.

The Vietnam Oil and Gas Group (PetroVietnam) enjoyed impressive production and business results in the first four months of 2021, thanks to its efforts to address bottlenecks to stimulate production and improve governance, besides an increase in oil prices.

Vietnam’s largest refining and petrochemical firm, Binh Son Refining and Petrochemical JSC (BSR), exceeded both of its production and financial targets in the first quarter of this year.

The Vietnam Oil and Gas Group (PetroVietnam) has maintained its good production and business, with many targets overfulfilled, during the first two months of this year.

Vietnam’s largest refining and petrochemical firm, Binh Son Refining and Petrochemical JSC (BSR), has set a target to earn about 864 billion VND (37.45 million USD) in after-tax profit this year.